Bloomberg Curbs Its Journalists' Access to Customer Data

Bloomberg LP moved to restrict its journalists' access to log-in and other data for users of its terminals after a big client, Goldman Sachs Group Inc.,GS-1.03% complained.

The information Bloomberg has blocked from its news division includes details on when a subscriber had most recently logged onto the service, when they had first become a subscriber and a tally of the types of functions they were accessing through the terminal, a person familiar with the matter said.

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Bloomberg LP moved to restrict its journalists' access to log-in and other data for users of its terminals. A stockbroker in London uses a variety of data sources, including a Bloomberg terminal, at his desk in London in March.
Bloomberg News

A Bloomberg spokesman confirmed that newsroom access to such customer log-in and usage data had been restricted to newsroom staff within 24 hours of receiving the complaint from Goldman. "Limited customer relationship data has long been available to our journalists, and has never included clients' security-level data, position data, trading data or messages," the spokesman said in a statement. "In light of their concern as well as a general heightened sensitivity to data access, we decided to disable journalist access to this customer relationship information for all clients."

Goldman's complaint reflected its concern that reporters and editors might report on the kinds of financial information Goldman employees were viewing on their screens, people familiar with the matter said.

"We brought this matter to the attention of the news organization, and senior management at the company assured us that they were taking immediate measures to address the problem," a Goldman spokesman said. Bloomberg's system of financial data, analysis and news is a ubiquitous presence on trading floors from Wall Street to Hong Kong.

Senior executives from Bloomberg and Goldman met to discuss the investment bank's concerns last month, although it isn't clear which executives were present.

Goldman didn't reduce its business with Bloomberg as a result of the incident, the bank's spokesman said. It Is also unclear if Bloomberg informed other clients about restricting the access.

Bloomberg journalists didn't have access to customers' passwords or other secured information, a person familiar with the matter said.

Dow Jones & Co., publisher of The Wall Street Journal, competes with Bloomberg in financial news and other information.

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